Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $4,006,966.56 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 159,513 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $25.12, for a total transaction of $4,006,966.56. Following the sale, the insider now owns 1,285,000 shares in the company, valued at $32,279,200. This trade represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

Shares of IPI traded down $0.20 during mid-day trading on Thursday, hitting $22.30. The company’s stock had a trading volume of 32,906 shares, compared to its average volume of 93,614. Intrepid Potash, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The stock has a market capitalization of $293.53 million, a price-to-earnings ratio of -6.66 and a beta of 2.21. The firm has a 50-day moving average price of $25.80 and a 200 day moving average price of $24.49.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The company had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. During the same period in the prior year, the company posted ($0.53) EPS. As a group, equities analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Intrepid Potash in the 3rd quarter valued at approximately $142,000. Quest Partners LLC raised its stake in Intrepid Potash by 24,863.2% during the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 9,448 shares during the period. Squarepoint Ops LLC acquired a new stake in Intrepid Potash during the 2nd quarter valued at $303,000. Barclays PLC lifted its holdings in shares of Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 10,599 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Intrepid Potash by 5.0% in the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after buying an additional 861 shares during the period. 56.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IPI has been the topic of several recent analyst reports. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group boosted their price objective on Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research note on Tuesday, November 5th.

Intrepid Potash Company Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.